Petty Cash Fund

Petty Cash Fund

A budgeted amount of money a company periodically replenishes to pay for minor purchases. A company may withdraw the petty cash fund from the bank every two to four weeks and keeps it in cash. This cash may be used, for example, to pay for lunch for employees once a week. Because the petty cash fund is a budgeted item, it helps reduce the likelihood that the company will overspend.
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References in periodicals archive ?
'Stop the practice of staggered purchases of common-use supplies available in the Procurement Service-Department of Budget and Management (PS-DBM) through the Petty Cash Fund and by reimbursements,' COA said in its report.
10, 1997 which requires that all cash advances shall be fully liquidated at the end of each year, 'and that except for petty cash fund, any unexpended balance shall be refunded to the Cashier/Collecting Officer who will issue the necessary official receipt.'
She was jailed for two-and-ahalf years in March after being convicted of plundering the petty cash fund of Cardiff council's child protection unit for debts, expensive gifts and luxury holidays.
I have shared camps with pilots and plumbers, business moguls and butchers, and everything in between--from the guy who saved for a decade to enjoy the same camp with another who paid for it out of the petty cash fund. And what makes the dynamic interesting is every one got along smashingly.
Under pressure from the loan company to pay back his debts, he steals from the garage's petty cash fund. But is it a blessing in disguise when he's caught red-handed by Kevin?
Keller also is suspected of having altered donation records in order to keep cash for herself; making personal purchases with the agency's credit card at Walmart and other stores; and diverting money from the charity's petty cash fund for her own use, Willis wrote.
When Congress started the huge charity foundation of giving P200m each to senators and P70m each to House members as PDAF, the guidelines for spending it was too few and easy to circumvent and convert to PPCF (or personal petty cash fund).
Instead she kept every penny for herself, and at the same time was raiding the home's petty cash fund of up to PS200 a week.
Those sales brought $650, which was "added to the unofficial petty cash fund maintained by the highway surveyor instead of being turned over to the town treasury," according to the state report.
* Personal checks are cashed through either the petty cash fund or daily receipts
Tracey Ridgeway also stole cash from the Kingsway Community Pre-School's petty cash fund and from a Christmas fund she was responsible for collecting.
I'd always leave a bit for my Christmas petty cash fund in an old jam jar by the window.